Global Net Lease Continues Leasing Momentum Into the Fourth Quarter
04 Dezembro 2023 - 8:00AM
Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”)
announced today that it completed approximately 1.7 million square
feet of leasing activity, comprised of over 313,000 square feet of
multi-tenant assets and nearly 1.4 million square feet of
single-tenant assets since September 30, 2023.
Within the multi-tenant segment, the Company
signed four new leases totaling nearly 82,000 square feet, that
will generate over $1.2 million in annualized straight-line rent
with a weighted average lease term of 12.8 years. Additionally, the
Company signed 19 lease renewals totaling approximately 232,000
square feet, and over $3.1 million in annualized straight-line
rent. Leasing spreads on renewals were 3.4% higher than the
expiring rent.
Within the single-tenant segment, the Company
signed 12 lease renewals totaling approximately 1.4 million square
feet and will contribute $7.9 million in annualized straight-line
rent. Leasing spreads on renewals were 9.8% higher than the
expiring rent.
“Our asset management platform continues to have
success leasing up available space at our properties and renewing
near-term lease expirations with our existing tenants on favorable
terms,” said Michael Weil, Co-CEO of GNL. “The significant leasing
interest we’re seeing from high-quality tenants across the entire
portfolio provides a highly predictable base of rental income that
will provide stability and durability to our business. We are
continuing to focus on organically increasing NOI through expense
management and occupancy growth while simultaneously executing on
strategic dispositions initiatives.”
About Global Net Lease,
Inc.
Global Net Lease, Inc. is a publicly traded real
estate investment trust listed on the NYSE, which focuses on
acquiring and managing a global portfolio of income producing net
lease assets across the United States, and Western and Northern
Europe. Additional information about GNL can be found on its
website at www.globalnetlease.com.
Important Notice
The statements in this press release that are
not historical facts may be forward-looking statements. These
forward-looking statements involve risks and uncertainties that
could cause the outcome to be materially different. The words such
as "may," "will," "seeks," "anticipates," "believes," "expects,"
"estimates," "projects," "plans," "intends," "should" and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements are subject to
a number of risks, uncertainties and other factors, many of which
are outside of GNL's control, which could cause actual results to
differ materially from the results contemplated by the
forward-looking statements. These risks and uncertainties include
the risks associated with the recently completed merger with The
Necessity Retail REIT, Inc. and the internalization of GNL's
property management and advisory functions; the geopolitical
instability due to the ongoing military conflict between Russia and
Ukraine and Israel and Hamas, including related sanctions and other
penalties imposed by the U.S. and European Union, and the related
impact on GNL, GNL's tenants and the global economy and financial
markets; that any potential future acquisition by GNL is subject to
market conditions and capital availability and may not be
identified or completed on favorable terms, or at all. Some of the
risks and uncertainties, although not all risks and uncertainties,
that could cause our actual results to differ materially from those
presented in our forward-looking statements are set forth in the
Risk Factors section of GNL's most recent Annual Report on Form
10-K for the year ended December 31, 2022, its Quarterly Reports on
Form 10-Q for the fiscal quarters ended March 31, 2023, June 30,
2023, and September 30, 2023, respectively and , and all other
filings with the Securities and Exchange Commission, as such risks,
uncertainties and other important factors may be updated from time
to time in GNL's subsequent reports. Further, forward-looking
statements speak only as of the date they are made, and GNL
undertakes no obligation to update or revise any forward-looking
statement to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time, unless required by law.
Contacts:Investor RelationsEmail:
investorrelations@globalnetlease.comPhone: (332) 265-2020
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